(NewsNation) — The Housing Market Index declined to its lowest level in a decade, and some economists believe a recession has already arrived.

Finance professor Dan Roccato of the University of San Diego weighed in on NewsNation’s “Rush Hour” and said that there is no doubt the housing market can lead to a recession; however, interest rates are key.

“The real villain here is interest rates. That’s what we have to really keep our eye on. As interest rates climb … your economy, your 401(k), and yes, housing prices will continue to come down. So, it’s the Federal Reserve that we really have to keep our eye on in terms of interest rate policy,” he said.

The good news, according to Roccato, is that homeowners looking to sell their properties should be able to do it. However, because interest rates are going up, he encourages homebuyers to negotiate.

“Negotiating is back in fashion. We forgot about that the last couple of years, but be very strict. And be very disciplined in your negotiation. Be patient, but be prepared. Get yourself preapproved. … All those important things,” he added.

Roccato predicts that “sometime next year” the housing market will rebound.